Tax

Failure by Congress to act on the alternative minimum tax by year’s end will lead to “significant” delays in tax filing and a strain on taxpayers, said Steven Miller, the Internal Revenue Service’s acting commissioner.

President Barack Obama again warned lawmakers that the U.S. economy will suffer unless there’s an agreement on a way to prevent more than $600 billion in automatic spending cuts and tax increases from taking effect.

Referrals and word of mouth remain the strongest marketing tool for tax preparers and other professionals, and as the 2013 tax season looms, here are some valuable tips for preparers to use referrals in their practice.

CPAs in Pennsylvania and New Jersey are pessimistic about economic trends both nationally and statewide, according to a new survey.

The so-called fiscal cliff has politicians in Washington performing the political equivalent of a soap opera as they leave the country in suspense about whether they will manage to resolve a self-inflicted crisis in time to avoid a recession next year.

The Internal Revenue Service has issued proposed regulations on the 0.9 percent Additional Medicare Tax for upper-income taxpayers scheduled to take effect next year as a result of the Affordable Care Act.

Check out the digital edition of the December 2012 issue of Accounting Today.

Small businesses need to deal with several changes in W-2 and 1099 forms and reporting requirements this year as the IRS looks to close the tax gap.

House Republicans, rejecting President Barack Obama’s demand for higher tax rates, countered with a $2.2 trillion deficit-cutting plan that would trim Medicare and Social Security and cap tax deductions for top earners.

CFOs in the U.S. remain uncertain about the future of the economy and their own businesses, according to a new survey.